Demand for lighting fixtures in the U.S. will increase 7.5% annually to $25.3 billion in 2016, recovering from the declines of the 2006-2011 period, according to a new industry study. An expected rebound in building construction activity and improved outlook for motor vehicle production will be important drivers for the lighting fixture market. Demand will also benefit from the greater use of lighting fixtures that are specifically designed for energy-efficient light sources such as LEDs.
Construction applications account for the majority of lighting fixture demand and through 2016 are expected to post the fastest growth of any major market, rising 8.5% annually to $15 billion. The residential market is expected to post the strongest gains in percentage terms, driven by the rebound in housing construction from a low 2011 base.
The large nonresidential market for lighting fixtures will also experience strong growth through 2016, increasing nearly 8% per annum. While not as high in percentage terms, the large size of the nonresidential market means that this segment will provide the best overall opportunities, with an additional $3.1 billion in demand in 2016, compared to the 2011 market.